Selling your home is an involved process that affects your family and your future. Before you begin this process, you'll want to ensure that you have the most up-to-date information. When should you sell? How do you get the best price? What kinds of renovations should be made prior to the sale?
These home selling reports will assist you in answering the many questions that arise during the home selling process. When you're armed with the right information, and an experienced real estate professional, you'll be closer to reaching your goal - selling your home fast, and for the best price.
Please contact me if you have any questions about selling your Toronto home.
Tips for selling your Home
Remember what first attracted you to your house when you bought it?
What excited you about it most? When deciding how best to present
your home for sale, it is helpful to try to get back into that buyer’s
frame of mind.
A spruced-up house makes a great first impression on potential
buyers. An attractive property grabs their attention and makes them
excited about finding a house that looks and feels well cared for.
Because buyers believe they’ll encounter fewer problems if they buy
it, your house becomes more appealing and stands out from the
competition. So if you prepare your home correctly, you’ll save time
selling it when it’s on the market.
A good first impression makes an impact on a number of levels. It’s
not just the way your house looks to potential buyers, but how it feels
and smells to them, how their friends and family will react, how they
imagine it would be to live there.
With simple improvements throughout your house, you can grab the
attention of potential buyers and help them see why your house is
right for them.
Buyers expect a spotless house, inside and out, so clean everything,
especially your windows and window sills. Scrub walls and floors, tile
and ceilings, cupboards and drawers, kitchen and bathrooms. Wash
scuff marks from doors and entryways, clean light fixtures and the
fireplace. Don’t forget the laundry room. And put away your clothes.
A new coat of paint cleans up your living space and makes it look
bright and new. To make rooms look larger, choose light, neutral
colors that will appeal to the most people possible, such as beige or
Check its condition. If it’s worn, consider replacing it. It’s an easy and
affordable way to help sell your home faster. Again, light, neutral
colors, such as beige, are best. If you don’t replace it, you can
suggest to potential buyers that they could select new carpet and
you’ll reduce your price; buyers like to hear they’re getting a deal. At
the very least, have your carpet cleaned.
Repairs and Renovations
It’s best to avoid making major renovations just to sell the house since
you’re unlikely to recoup those costs in your selling price. Make minor
epairs to items such as leaky faucets, slow drains, torn screens.
buyers won’t take you seriously if your home improvement efforts look
messy, shoddy, or amateurish.
Leaks and Moisture
Water stains on ceilings or in the basement alert buyers to potential
problems. Don’t try to cosmetically cover up stains caused by leaks. If
you’ve fixed the water problem, repair the damage and disclose in
writing to the buyer what repairs were made.
In the Yard
Grab people’s attention by enhancing your yard and landscaping. If
your house looks inviting and well-maintained from the street, people
will imagine that it’s attractive on the inside, too.
The Front Door
An attractive entry catches a buyer’s eye and says, "Welcome," so
highlight this area of your house with decorative touches, such as a
wreath on the door or new shrubs and flowers around the steps. For
an even grander entry, clean and paint your front door, or replace it
with a new one for a few hundred dollars. Don’t forget to fix and polish
doorknobs, repair torn screens, and then put out that new welcome
The Right Listing Price
When you’re selling your home, the price you set is a critical factor in the
return you’ll receive. That’s why you need a professional evaluation from an
experienced Realtor®. This person can provide you with an honest
assessment of your home, based on several factors, including:
Condition of your home
Repairs or improvements
In real estate terms, market value is the price at which a particular house, in
its current condition, should sell within 30 to 90 days. If the price of your
home is too high, this could cause several things:
1. Limits buyers. Potential buyers may not view your home because it appears to be out of their buying range.
2. Limits showings. Other salespeople may be more reluctant to view your home.
3. Used as leverage. Other Realtors® may use this home to drive the sale of other homes that are better-priced.
4. Extended stay on the market. When a home is on the market too long, it may be perceived as defective. Buyers may wonder, “what’s wrong,” or “why hasn’t this sold?”
5. Lower price. An overpriced home, still on the market beyond the average selling time, could lead to a lower selling price. To sell it, you will have to reduce the price – sometimes several times. In the end, you’ll probably get less than if it had been properly priced in the first place.
6. Wasted time and energy. A bank appraisal is most often required to finance a home.
Rent increase Guideline
The guideline is the maximum a landlord can increase most tenants’ rent during a year without the approval of the Landlord and Tenant Board.
Rent increase guideline for 2020
The rent increase guideline is 2.2% for increases between January 1 and December 31, 2020.
The guideline applies to most private residential rental units covered by the Residential Tenancies Act.
The guideline does not apply to:
vacant residential units
social housing units
This guideline also does not apply to new buildings, additions to existing buildings and most new basement apartments that are occupied for the first time for residential purposes after November 15, 2018.
In most cases, the rent for a unit can be increased 12 months after:
the last rent increase
a tenant first moves in
A tenant must be given written notice of a rent increase at least 90 days
before it takes effect.
Your monthly rent was increased to $1,000 on June 1, 2019. The
guideline for 2020 is 2.2%. Therefore:
an increase of 2.2% on $1,000 = $22.00
$1,000 + $22.00 = $1,022.00
Your landlord could lawfully increase your rent payment 12 months
later on June 1, 2020 up to $1,022.00 per month
Your landlord would need to provide you written notice at least 90
days before June 1, 2020.